U.S. Psychiatry Clinic Market Size, Share & Trends Analysis Report By Age Group (Adult, Paediatric), And Segment Forecasts, 2022 - 2030

U.S. Psychiatry Clinic Market Size, Share & Trends Analysis Report By Age Group (Adult, Paediatric), And Segment Forecasts, 2022 - 2030

U.S. Psychiatry Clinic Market Growth & Trends

The U.S. psychiatry clinic market size is expected to reach USD 34.1 billion by 2030, based on a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 4.1% from 2022 to 2030. Increased prevalence of mental illness in the U.S resulting in higher demand for psychiatric services is the key factor driving the market.

As per the Anxiety & Depression Association of America, nearly 18% of the U.S. population has anxiety disorders. Around 41% of the U.S. population has mental disorders in 2020 according to the latest research report published by Kaiser Family Foundation (KFF). There is high unmet demand for mental health services in the U.S. As per Mental Health America, more than 50% of youth having depression & anxiety disorder have not received treatment. Moreover, 26% of adults have been reported to have an unmet requirement for mental health services

The COVID-19 pandemic had a huge impact on the market. Psychiatric clinics faced a huge revenue drop because of service restrictions & drop in occupancy as a result spread of infection within the psychiatric clinics & hospitals. New rules have been in place for these facilities with restrictions on staff, occupancy & visitors. Telepsychiatry services by psychiatric clinics during pandemic is providing great accessibility to the treatment. Telepsychiatry is expected to play a crucial role post-pandemic as well helping in effective managing the high demand. The market has a huge scope with the technological growth & attention towards mental health as a priority by the government.

U.S. Psychiatry Clinic Market Report Highlights

• In terms of age group, the adult segment dominated the U.S. psychiatry clinic in 2021 as a result of the high disease prevalence of mental illness in the adult population.
• The market is witnessing higher demand because of favorable insurance coverage making the treatment affordable to patients and the rising disease prevalence.
• Collaborations and facility expansion are the key strategic initiatives undertaken by psychiatric clinics to gain market share. For Instance, in March 2021, Acadia Healthcare partnered with Geisinger Health for building new behavioral health facilities in Pennsylvania.